Cobalt has become a conflict mineral given that more than half of global cobalt supply comes from the Democratic Republic of the Congo (DRC) which includes smaller non-sanctioned mines that may use child labor.
A company that we have been following, Nano One Materials Corp. (NNO.V), is out this morning with a press release highlighting successful production of high-voltage cobalt-free lithium ion battery cathode materials. NNO’s cobalt-free technology has tremendous advantages including cost reduction, less environmental footprint, and avoiding the cobalt supply chain risks.
Here is this morning’s Nano One press release:
Vancouver, B.C. March 31, 2016 (TSX Venture: NNO): Dan Blondal, CEO of Nano One Materials Corp. announced today that Nano One has successfully produced high-voltage cobalt-free lithium ion battery cathode materials. Testing shows that this Nano One material has advantages over commercial equivalents.
“Our patented process has produced material that shows better longevity with over 10 times less energy fade,” said Mr. Blondal, “and we’ve measured up to 50% more energy at high rates of discharge. This material is remarkably stable and could be very competitive with existing commercial materials in terms of its high voltage performance and its cobalt free cost advantages.”
“Cobalt adds cost and supply chain risk to most lithium ion batteries,” says veteran mining entrepreneur and Nano One Chairman Paul Matysek. “The most recent battery material being produced by Nano One requires only lithium, manganese, nickel and no cobalt. This should be well received by the battery industry as it reduces costs, environmental footprint and the supply chain risks while providing high voltage advantages for next generation lithium ion batteries.”
The material, known as high voltage spinel, has cost advantages because it contains no cobalt and has 4.7-volt potential, which is 30%-45% higher voltage than commercial cells found in hand-held devices and electric vehicle batteries. High voltage materials like these are expected to play a significant role in future automotive and grid storage battery applications. Nano One anticipates that this material will be of interest to strategic industry players.
“While results are preliminary for this high voltage spinel and there is much to learn, we are encouraged by its advantageous crystal structure and by its performance in batteries,” explains Nano One Principal Scientist Dr. Stephen Campbell. “Results show more stability and conductivity than commercially available materials which could pack more cathode material into a cell, extend longevity and improve safety. Add to that its higher voltage and this material could increase energy and power densities of batteries, reduce the number of battery cells and lower requirements for thermal and charge management. All of these benefits could drive down weight, volume, and cost of battery packs.”
In parallel with these activities, Nano One is developing its processing technology for the industrial production of a wide range of lithium ion battery cathode materials including cutting edge and next generation variations on nickel, manganese, cobalt and iron based lithium ion batteries. Nano One is confident that its process technology can be commercialized and has initiated the design and construction of a pilot scale plant to demonstrate the scaled-up production of multiple cathode materials for lithium ion batteries.
Nano One Materials Corp.
Dan Blondal, CEO
For information with respect to Nano One or the contents of this news release, please contact John Lando (President) at (604) 669-2701 or visit the website at www.nanoone.ca.
About Nano One
Nano One Materials Corp (“Nano One” or “the Company”) is developing novel and scalable processing technology for the and low-cost production of high performance battery materials used in electric vehicles, energy storage and consumer electronics. The patented technology can be configured for a wide range nanostructured materials and has the flexibility to shift with emerging and future battery market trends and a diverse range other growth opportunities. The novel three-stage process uses equipment common to industry and is being engineered for high volume production and rapid commercialization. Nano One’s mission is to establish its patented technology as a leading platform for the global production of a new generation of nanostructured composite materials. For more information, please visit nanoone.ca
Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the actual receipt of the grant monies, the execution of the Company’s plans which are contingent on the receipt of such monies and the commercialization of the Company’s technology and patents. Generally, forward-looking information can be identified by the use of forward-looking terminology such as ‘believe’, ‘expect’, ‘anticipate’, ‘plan’, ‘intend’, ‘continue’, ‘estimate’, ‘may’, ‘will’, ‘should’, ‘ongoing’, or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the completion of final documentation with SDTC and the receipt of all necessary regulatory approvals. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.
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